PM updates business environment on sidelines of WEF on ASEAN

He said Viet Nam is not only a market with 93 million population but also a gateway to ASEAN and global markets as it has signed 12 free trade agreements and joining talks on four others.

PM Nguyen Xuan Phuc updates business leaders on Viet Nam's business environment on the sidelines of the World Economic Forum on ASEAN in Cambodia. (Photo: VGP)

The country’s open door policy has brought fruits to both domestic and foreign investors, said PM Phuc, adding that the Government is determined to continue reform path to further facilitate foreign investment, particularly in such priority fields like infrastructure, renewal energy, high technology.

Especially, infrastructure development is the prerequisite for economic connectivity and a pillar of the ASEAN community. It is also one of the three strategic breakthroughs of Viet Nam to restructure the economy and transform growth model.

Viet Nam needs some US$480 billion between 2016 and 2020 for infrastructure development, thus the country welcomes foreign investment in high-quality infrastructure development, including construction of highways, seaports, aviation terminals among others.

The Government pledges to protect the intellectual property rights and assets of investors, he affirmed.

The Government chief also voiced strong support for startup activities while calling for foreign investors’ engagement in this area.

(Photo: VGP)

Speaking at the meeting, WEF Managing Director Philipp Roesler shared his view that the Mekong region is dynamic with a young population.

He welcomed the meeting between PM Phuc and the business leaders to exchange information in a bid to further enhance cooperation for mutual benefits.

The leaders of the businesses, including Visa, Golden Gates Ventures, Bragiel Brothers, Marsh (the US), OPTrust (Canada), Unison Capital, Mitsubishi (Japan), Development Bank of Japan, Hanwha (the Republic of Korea), Standard and Chartered (the UK), Temasek (Singapore), Eastpring Investment (Hong Kong) spoke highly of Viet Nam’s resolve to improve its business environment as well as the Government’s support for business community.

The same day, PM Phuc attended the closing ceremony of the WEF on ASEAN.